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U.S. stocks surge on comment by Fed's Powell

Published 06/04/2019, 04:06 PM
Updated 06/04/2019, 04:06 PM
© Reuters. Traders work on the floor at the NYSE in New York

(Reuters) - Wall Street's three major indexes clocked their biggest one-day gains in five months on Tuesday after Federal Reserve Chair Jerome Powell left the door open for a possible rate cut.

© Reuters. Traders work on the floor at the NYSE in New York

The Dow Jones Industrial Average rose 512.4 points, or 2.06%, to 25,332.18, the S&P 500 gained 58.82 points, or 2.14%, to 2,803.27 and the Nasdaq Composite added 194.10 points, or 2.65%, to 7,527.12.

Latest comments

Rate cut bets could still disappoint if it doesn't come fast enough or large enough.  Downward pressure still on as global PMI slips below 50.
2800 spx, no way for a cut
Rate cut, US indexes jump, rate hike and they jump. Any excuse is where im going with this.
For those who think this is fake market reaction, remember December when on Monday the Fed came to save it. This time was Bullard and company. Of course after all bad news where do on Monday opening, a gap dwn next strong hands lead the slaughter. Godspeed and keep learning.
'Wall Street rebounds on U.S. rate cut hopes' I am bearish atm don't think the Mexico tariffs are going to go down easy, more like a extremely bad case of Chipotle food poisoning that will linger for the next couple of years.
Rate hikes should have never happened last year. Time to reverse and cut 50 pts. Make the banks give that cCartney intrest back
David Wrong roars in dustbin of history
Two things lead the market now, Trump' tweets and Fed Speachs. most of time they create completely illogicals overreactions .
when there was no road, cars, telephone, the establishment played a progressive role when it was necessary to adopt a declaration of independence and a constitution. in the age of the Internet and social networks, when fake news can no longer create public opinion, the bureaucracy demonstrates its low efficiency, any medium corporation is better managed than the United States. Against such background, a social and political crisis arises, the old one offers socialism and greater state regulation.
Bullard has been "bull " but irresponsible. If he has a vote the only reason that he make it transparent is to save the market of another dip.
#HopesAndPrayers
bull trap?
FED tweets
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